*Note: See NSLDS to find out if you have FFEL or Diret Loans. The FFEL Program was dissolved in 2010, and since then all federal student loans made have been Direct Loans.

Income Related Repayment Plans: IBR, PAYE & REPAYE

Monthly payments are tied at least in part to income. Borrower must apply and provide required documentation each year. Initial and/or subsequent lower payments may result in higher overall repayment costs when compared with Standard. Note the loan types eligible for each income related repayment plan vary.

Monthly payments based on annual income and federal student loan debt, adjusted annually upon re-certification by borrower

Payment must cover monthly accured interest

Payment changes as your income changes

Each servicer's formula for determining the monthly payment amount under this plan can vary

Least selected income based plan

*Note: See NSLDS to find out if you have FFEL or Direct Loans. The FFEL Program was dissovled in 2010, since then all federal student loans have been Direct Loans, therefore loans borrowed after 2010 will not be eligible for this plan.

You can change repayment plans once every 12 months. Contact your loan servicer to select a repayment plan option that works best for you.